Bitcoin reserves on Binance, the world’s largest crypto exchange, have dropped below 570,000 BTC — the lowest level since January 2024, according to CryptoQuant analyst Darkfost. This mirrors a similar pattern earlier this year when Bitcoin reserves hit a low, and BTC surged 90% to $73,679 by March.
Currently trading at $98,680, a similar trajectory could see Bitcoin reaching $187,500 in the coming months. Declining exchange reserves typically indicate that investors are transferring BTC to cold storage, signaling bullish long-term sentiment.
Bitcoin dominance now stands at 58.4%, with the critical 60% level acting as a potential indicator for broader crypto market movements. Analysts believe this threshold could prompt a rotation toward other crypto assets, but for now, Bitcoin’s momentum builds.
Source: Cointelegraph
